Swiss Re Completes SCI Acquisition

November 15, 2000

Swiss Re announced that it has completed the acquisition of the remaining 65 percent interest it didn’t already hold in Società Italiana Cauzioni (SIC), a Rome based bond and credit insurer, which employs 163 people in 88 agencies throughout Italy. Swiss Re has held a minority interest in SCI since 1975.

It plans to increase links between SCI and its Dutch based subsidiary NCM, in which it holds a 90 percent interest. “As part of the Swiss Re Group, SIC will immediately benefit from the scale of a global organisation and will be able to substantially enhance its previously announced cooperation with NCM,” said the announcement.

NCM is a global credit insurer based in Amsterdam; which covers risks of non-payment, debt collection and “related credit management services.” It had $456.5 million in turnover last year.

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